As India accelerates its journey toward becoming a global leader in renewable energy, the demand for green energy investments has soared. The Indian government’s focus on promoting renewable energy, combined with global sustainability goals, has made renewable energy stocks a key area of interest for investors.
In this article, we will discuss the top 13 renewable energy stocks in India, offering a detailed analysis of their performance, growth prospects, and plans. This guide will help you make informed decisions about investing in India’s renewable energy sector.
1. Tata Power Company Limited
Tata Power has established itself as one of the most prominent players in the Indian renewable energy space. With an increasing focus on solar, wind, and hydropower, Tata Power has been steadily increasing its renewable energy portfolio.
Key Details:
- Current Stock Price (2024): ₹230
- Market Capitalization: ₹73,000 crore
- Growth Plans: Tata Power plans to expand its renewable capacity to 15,000 MW by 2025.
Tata Power has also entered into partnerships to develop solar power solutions across residential, commercial, and industrial sectors, making it one of the most versatile renewable energy companies in India.
2. Adani Green Energy Limited
Adani Green Energy is one of India’s largest renewable energy companies, focusing on solar and wind power. With an installed capacity of over 20,000 MW, Adani Green has seen rapid growth in recent years.
Key Details:
- Current Stock Price (2024): ₹1,000
- Market Capitalization: ₹1.7 lakh crore
- Growth Plans: Adani Green aims to achieve a total installed capacity of 45,000 MW by 2030.
The company’s robust pipeline of renewable projects, supported by government contracts, makes it a leading stock in the Indian market.
3. NTPC Limited
NTPC, traditionally a thermal power giant, is now making a major shift toward renewable energy. The company is actively investing in solar and wind projects to align with India’s clean energy goals.
Key Details:
- Current Stock Price (2024): ₹180
- Market Capitalization: ₹1.45 lakh crore
- Growth Plans: NTPC aims to achieve 60,000 MW of renewable energy capacity by 2032.
NTPC has been awarded several large-scale solar projects under India’s renewable energy initiatives, making it a key player in the transformation to green energy.
4. JSW Energy Limited
JSW Energy has diversified into renewable energy with an increased focus on solar and wind power. The company’s long-term vision includes transitioning away from coal-based power to achieve a more sustainable energy mix.
Key Details:
- Current Stock Price (2024): ₹300
- Market Capitalization: ₹49,000 crore
- Growth Plans: JSW Energy plans to increase its renewable energy capacity to 10,000 MW by 2030.
With ongoing projects in wind and solar, JSW Energy is positioning itself as a leader in India’s green energy market.
5. NHPC Limited
NHPC, initially a hydropower company, has been diversifying into solar and wind power. The company’s strong presence in the renewable sector, combined with its focus on large-scale hydroelectric projects, makes it a reliable choice for investors.
Key Details:
- Current Stock Price (2024): ₹50
- Market Capitalization: ₹50,000 crore
- Growth Plans: NHPC plans to develop 10,000 MW of solar and wind capacity by 2030.
NHPC’s involvement in both hydropower and solar projects positions it as a key player in India’s renewable energy future.
6. Suzlon Energy Limited
Suzlon Energy is a well-known name in the wind energy sector. Although the company faced financial struggles in the past, it has restructured and is back on track with its renewable energy expansion plans.
Key Details:
- Current Stock Price (2024): ₹20
- Market Capitalization: ₹12,000 crore
- Growth Plans: Suzlon aims to enhance its wind energy capacity and explore opportunities in offshore wind.
Suzlon remains a key contributor to India’s wind energy sector, with plans to capture more of the growing demand for renewable power.
7. Inox Wind Limited
Inox Wind is a major player in wind energy manufacturing and project development in India. The company provides wind turbines and related solutions for wind power generation across India.
Key Details:
- Current Stock Price (2024): ₹110
- Market Capitalization: ₹3,000 crore
- Growth Plans: Inox Wind is expanding its turbine manufacturing and aiming for increased participation in domestic wind projects.
The company is a major contributor to India’s wind power infrastructure, and its growth outlook remains positive with upcoming projects in the pipeline.
8. Sterling and Wilson Renewable Energy Limited
Sterling and Wilson Renewable Energy is a global player based in India, primarily focused on solar EPC (engineering, procurement, and construction) services. The company has successfully executed several large-scale solar projects in India and abroad.
Key Details:
- Current Stock Price (2024): ₹350
- Market Capitalization: ₹7,500 crore
- Growth Plans: The company is looking to expand into solar storage solutions and increase its global presence.
Sterling and Wilson’s expertise in solar energy makes it a strong contender in the renewable energy space in India.
9. Indian Energy Exchange (IEX)
IEX is India’s leading energy trading platform, and it plays a vital role in the trading of renewable energy certificates (RECs) and green power. It enables the trading of electricity generated from renewable sources.
Key Details:
- Current Stock Price (2024): ₹770
- Market Capitalization: ₹22,000 crore
- Growth Plans: IEX plans to introduce new green power trading products and expand its renewable energy exchange platform.
IEX’s green energy focus makes it a unique player in the renewable energy ecosystem.
10. Borosil Renewables Limited
Borosil Renewables is India’s only manufacturer of solar glass, which is essential for solar panel production. The company plays a critical role in supporting India’s solar energy industry.
Key Details:
- Current Stock Price (2024): ₹620
- Market Capitalization: ₹8,500 crore
- Growth Plans: Borosil Renewables is focused on doubling its production capacity to meet the growing demand for solar glass.
The company’s essential role in the supply chain for solar panels makes it an important stock for renewable energy investors.
11. SJVN Limited
SJVN has traditionally focused on hydropower but is expanding its footprint into solar and wind energy. The company has ambitious goals to increase its share of renewable energy in its portfolio.
Key Details:
- Current Stock Price (2024): ₹45
- Market Capitalization: ₹17,000 crore
- Growth Plans: SJVN aims to develop 12,000 MW of renewable energy projects by 2030.
SJVN’s push toward renewable energy aligns well with India’s green energy goals, making it a strong investment opportunity.
12. Websol Energy System Limited
Websol Energy is a solar photovoltaic (PV) module manufacturer, that provides solar panels for various sectors in India. The company has benefited from the increasing demand for solar power in India.
Key Details:
- Current Stock Price (2024): ₹180
- Market Capitalization: ₹1,500 crore
- Growth Plans: Websol Energy is expanding its production capacity and aiming to cater to the rising domestic demand for solar panels.
The company’s focus on high-efficiency solar panels makes it a key player in India’s solar energy sector.
13. Reliance Industries (Renewable Energy Division)
Reliance Industries has announced its entry into the renewable energy space, with a major focus on solar and hydrogen energy. Although traditionally known for its petrochemical business, Reliance is making significant investments in green energy.
Key Details:
- Current Stock Price (2024): ₹2,400
- Market Capitalization (total): ₹17 lakh crore
- Growth Plans: Reliance aims to invest ₹75,000 crore in renewable energy projects over the next decade.
Reliance’s scale and financial strength make it a powerful force in India’s renewable energy landscape, with plans to dominate the solar and hydrogen markets.
India’s renewable energy market is expanding rapidly, offering exciting opportunities for investors. The government’s commitment to sustainable energy, coupled with growing private sector investment, positions the country as a future global leader in green energy.
The 13 stocks listed in this article are at the forefront of India’s renewable energy transition, making them promising investment options. As the nation continues to shift toward a sustainable future, these companies are expected to play a vital role in achieving India’s green energy goals.
Investing in these stocks not only offers potential financial returns but also contributes to the broader mission of combating climate change and reducing carbon emissions. Keep an eye on these companies as they drive India’s renewable energy revolution and create a greener, cleaner future for all.
